Jan R. Williams,
University of Tennessee Susan F. Haka,
Michigan State University Mark S. Bettner,
Bucknell University Joseph V. Carcello,
University of Tennessee Nelson C. Y. Lam,
Accounting Development Foundation Limited Peter T. Y. Lau,
Hong Kong Baptist University
ISBN: 1259073629 Copyright year: 2015
What's New
Chapter 1 Accounting: Information for Decision Making
Updated chapter-opening vignette
on HSBC
New and updated Cases in Point and extended coverage on
convergence of global accounting standards
Updated the revised IFAC Code
of Ethics for Professional Accountants
Updated and revised end-of-chapter questions and cases that include other
IFRS-reporting companies from around the world
Chapter 2 Basic Financial Statements
Updated chapter-opening vignette on Nintendo
Updated the title of balance sheet to statement of financial position, an
IFRS term
Reformatted statement of financial position in accordance with the
presentation order under IAS 1
Contrasted the T-account format and straight-line format of statement of
financial position
Updated end-of-chapter questions and cases that include other IFRS-reporting
companies from around the world, e.g. BP and Singapore Airlines
Chapter 3 The Accounting Cycle: Capturing Economics Events
Updated chapter-opening vignette on Nestlé
S.A.
Further alignment of terms with IFRS
Updated IFRS materials, end-of-chapter questions, and cases, including Tesco
and BP
Chapter 4 The Accounting Cycle: Accruals and Deferrals
Updated chapter-opening vignette
on Genting Hong Kong Limited
Updated IFRS
materials, end-of-chapter questions, and cases, e.g. Peninsula Hotel and China
Mobile
Chapter 5 The Accounting Cycle: Reporting Financial Results
Updated chapter-opening vignette on Royal Philips
Revised the income statement section with updated title of statement of profit
and loss and other comprehensive income, an IFRS term
Explanation of the closing process
Updated materials, end-of-chapter questions, and cases, including IFRS-reporting
companies such as Cathay Pacific Airways and Carrefour
Chapter 6 Merchandising Activities
Updated chapter-opening vignette on Marks & Spencer
Updated materials, end-of-chapter questions, and cases, including an updated
Internet case study based on Aeon Japan (a Tokyo Stock Exchange company)
Chapter 7 Financial Assets
Updated chapter-opening vignette
on Singapore Exchange Limited
Incorporated
the requirements in IAS 39, including an introduction to IFRS 9 which is not yet
effective
Updated materials, end-of-chapter questions, and cases that
include IFRS-reporting companies such as CLP and China Merchants
Chapter 8 Inventories and the Cost of Goods Sold
Updated chapter-opening vignette
on Metro Group
Updated end-of-chapter
questions that include IFRS-reporting companies such as adidas AG,
Herzogenaurach, Li & Fung, Marks & Spencer, Wing On, Chow Sang Sang, and Sa Sa
Chapter 9 Property, Plant, and Equipment, Intangible Assets, and
Natural Resources
Updated chapter-opening vignette
on Cathay Pacific Airways, recipient of the
2013 World's Best Cabin Staff and Best Transpacific Airline awards in the
Skytrax World Airline Awards
Revised R&D to Sales analysis based on IFRS-reporting
companies: PetroChina, Sinopec, Lenovo, Halma, Astrazaneca, GSK,
Hewlett-Packard, and Sage
Updated end-of-chapter questions include IFRS-reporting companies such as Li
& Fung and Hong Kong and China Gas
Chapter 10 Liabilities
Updated chapter-opening vignette
on Manchester United Football Club
Discussion on different types of current and noncurrent liabilities, bond
financing, provisions, contingent liabilities, and commitments
Updated end-of-chapter questions include IFRS-reporting companies such
as Cathay Pacific Airways, PetroChina, and DBS Bank
Chapter 11 Shareholders' Equity: Capital
New chapter-opening vignette
on China Mobile Limited introduces the topic of
accounting capital
Updated end-of-chapter questions and cases that
include IFRS-reporting companies such as Securities and Futures Commission in
Hong Kong and Royal Dutch Shell
Chapter 12 Profit and Changes in Retained Earnings
Updated chapter-opening vignette
on Sinopec introduces how profit or loss items are
presented in the statement of profit or loss and other comprehensive income
(income statement)
Reformed income statement that aligns with the new requirements of IAS 1
that includes an explanation of these new requirements
Updated the title of statement of comprehensive income or income statement
to statement of profit or loss and other comprehensive income, a new IFRS term
Explanation of other comprehensive income and the alternative presentation
formats in statement of profit or loss and other comprehensive income
Updated materials, end-of-chapter questions, and cases to include IFRS-reporting
companies, such as Hutchison Telecommunications, Vodafone, and Ghana
Telecommunications
Chapter 13 Statement of Cash Flows
Updated chapter-opening vignette on CLP Group,
one of the leading power companies in the world
Updated You as a Financial Analyst case based on IFRS-reporting
companies such as MTR, Li & Fung, COSCO, and Hong Kong and China Gas
Updated Internet case using CLP Group and Hysan
Chapter 14 Financial Statement Analysis
Updated chapter-opening vignette
on LVMH Moët Hennessy — Louis
Vuitton
Revised ratio analysis that confroms to IFRS terms
Updated materials, end-of-chapter questions, and cases include IFRS-reporting
companies, such as Volkswagen, China Resources Enterprise, and Tesco
Chapter 15 Global Business and Accounting
New chapter-opening vignette
on Apple Inc — a U.S. technology giant with global assembly and production of its
products — discusses the impact of globalization on our daily lives, economy,
and business that complicate the practice of financial accounting
New Exhibit showing the location of the world’s top multinational companies
and a new Case in Point
Updated exhibit depicting the global adoption and convergence of IFRS
Updated materials, end-of-chapter questions, and cases
2015
McGraw-Hill Education Asia